The pound has weakened against both the euro and the dollar this morning, as reports have surfaced that at the EU summit tomorrow, EU leaders will say that the progress of Brexit talks is “not sufficient” for a deal. This increases worries of a no-deal Brexit, causing sterling to weaken.
We could see further volatility from the pound today and for the rest of the week as it responds to headlines before, during and after the summit.
The dollar is stronger across the board this morning, benefitting from its safe-haven status due to stimulus and vaccine news.
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